Here's the new Fed dot plot

The Federal Reserve finally raised their target for the Fed Funds
rate, ending a seven year long run of near-zero interest rates.
The Fed also provided some hints as to what they'll do next.

The "dot plot," part of the
FOMC's Summary of Economic Projections released along with
the policy decision statement, shows where each participant in
the meeting thinks the fed funds rate should be at the end of the
year for the next few years and in the longer run.

Each of the 17 members of the FOMC anonymously provides their
predictions for the target fed funds rate at the end of this
year, each of the next few years, and in the longer term. The Fed
releases those predictions in a chart that includes a dot
for each of the members at their target interest rate level for
each time period.

While the "dot plot" is not an official policy tool, it provides
some insight into how the committee members feel about economic
and monetary conditions going forward.

In the release after September's meeting, the dots indicated a
relatively dovish path for rates moving forward. The median FOMC
member saw rates between 0.25% and 0.5% at the end of 2015,
consistent with the decision to raise rates. They then saw rates
rising to between 1.25% and 1.5% at the end of 2016, and then
rates eventually rising to around 3.5% in the longer term.

The new dot plot follows in largely the same vein: The median
FOMC member expects rates to be between 1.25% and 1.5% at the end
of 2016, rising to about 3.5% in the longer run. In the chart
below, the median dots are darker than the others: